Photo by Pexels
According to a recent study by SmartAsset, Talbot County ranked among the top places in Maryland to get a mortgage. The New York financial technology company’s study compared the likelihood of mortgage approval by county in addition to mortgage rates, average five-year borrowing costs, and property taxes.
To determine the best places in the country to get a mortgage, SmartAsset looked at four factors: overall borrowing costs, ease of securing a mortgage, cost of property taxes, and annual mortgage payments. Read more about the methodology here.
“This ranking comes as no surprise,” says Sam Shoge, Economic Development Coordinator with Talbot County Department of Economic Development and Tourism. “Talbot County is the regional hub for banking and finance. With access to capital, combined with our low property tax rates–which are the lowest in the State–Talbot County is a great place for families to secure a mortgage and live.”
View the table below to see how Talbot County compares to other Maryland Counties.
Best Places to get a Mortgage in Maryland
| Rank | County | Loan Funding Rate | 5 Year Borrowing Costs | Property Tax | Annual Mortgage Payment | Best Mortgage Markets Index |
| 1 | Worcester, MD | 64.82% | $86,374 | $11,132 | $16,099 | 37.96 |
| 2 | Carroll, MD | 66.28% | $86,429 | $13,129 | $16,099 | 37.28 |
| 3 | Wicomico, MD | 57.87% | $85,829 | $13,510 | $16,099 | 36.43 |
| 4 | Calvert, MD | 63.52% | $86,429 | $12,407 | $16,099 | 36.37 |
| 5 | Talbot, MD | 64.12% | $86,999 | $8,552 | $16,099 | 35.59 |
| 6 | Cecil, MD | 59.54% | $86,069 | $14,289 | $16,099 | 35.48 |
| 7 | Allegany, MD | 63.22% | $86,354 | $15,875 | $16,099 | 34.80 |
| 8 | Kent, MD | 61.27% | $86,374 | $14,008 | $16,099 | 34.77 |
| 9 | Queen Annes, MD | 64.22% | $87,034 | $11,141 | $16,099 | 34.07 |
| 10 | Washington, MD | 61.58% | $86,574 | $13,720 | $16,099 | 33.98 |
Click here to learn more about SmartAsset’s rankings and to see the study.
About Talbot County Department of Economic Development and Tourism
The Office of Economic Development and the Office of Tourism were merged in 2016 by the Talbot County County Council to fully leverage the synergy and common interest of the two offices. The mission of the Department of Economic Development and Tourism is to enhance and promote a business-friendly environment for current and prospective enterprises and to advocate for policies that support and strengthen the economic vitality of Talbot County. The vision the department sees for Talbot County is simple: Strong Communities. Empowered Businesses. Innovative Solutions.
If you own or operate a business here in Talbot County, or want to start one, you are encouraged to contact the Department of Economic Development and Tourism at 410-770-8058 or visit their office at 215 Bay Street, Suite 5, Easton, MD.